PPP Loan Data — Labor Finders Of Tennessee, Inc, White House, TN
Labor Finders Of Tennessee, Inc is a subchapter s corporation located at 2504 Hwy 31 W, in White House, Tennessee that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Labor Finders Of Tennessee, Inc in White House, TN received a Paycheck Protection Loan of $2M through Regions Bank, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Labor Finders Of Tennessee, Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 495 jobs retained, this equals an estimated average yearly compensation of $19,394 per employee1
Reported PPP Proceed Usage:
On the PPP application, Labor Finders Of Tennessee, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,000,000
Business Information - Labor Finders Of Tennessee, Inc in White House, TN
2504 Hwy 31 W,
White House, TN 37188
Temporary Help Services
NAICS code 561320
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near White House
In the White House area, 2 businesses in the "Temporary Help Services" industry received a PPP loan. These local businesses reported an average of 249 employees (compared to this company's 495) and received an average PPP loan of $1,024,539 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Above And Beyond LLC
White House, TN
Industry PPP Comparison Statistics
Nationwide, 8,994 businesses in the "Temporary Help Services" industry received a total of $3.65B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 51 employees, 90% lower than Labor Finders Of Tennessee, Inc's reported 495 employees, and received an average PPP loan of $405,841, 80% lower than this company's loan of $2M.
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Footnotes & Information
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